Central Heating forms part of the Fixtures and Fittings as far as capital allowances go if you're claiming for the building itself.
In relation to the question about calculation, search Google for "property capital allowance indicative savings'
Is it correct that one can claim for central heating system as capital allowances?
Is it correct that one can claim for central heating system as capital allowances?
In relation to capital allowances - can you hold back a percentage of your capital allowances for the following year?
In fact, if you're property company didn't make a profit, you can carry the benefit sideways in to other commercial interests that did.
So the Revenue are wrong and you and your fellow posters are right?
There's no right or wrong as such. With issues like this it's all a matter of interpretation and IMO a central heating system is NOT claimable for Cap Alls as it adds value to a property
In fairness, if a dispute arose with Revenue over it I think it is unlikely that a Revenue Inspector could levy interest or penalties on somebody who claimed Capital Allowances on a central heating system given what is stated in the Revenue leaflet. I do however think that most Revenue Inspectors would consider a central heating system an enhancement as opposed to a fixture or fitting.
there's no right or wrong as such. With issues like this it's all a matter of interpretation and imo a central heating system is not claimable for cap alls as it adds value to a property
in fairness, if a dispute arose with revenue over it i think it is unlikely that a revenue inspector could levy interest or penalties on somebody who claimed capital allowances on a central heating system given what is stated in the revenue leaflet. I do however think that most revenue inspectors would consider a central heating system an enhancement as opposed to a fixture or fitting.
The Revenue guidelines as set out are so insufficient it's an insult. (Check out the British system ...so so much simpler and clearcut)
www hmrc.gov.uk/manuals/pimmanual/pim3200.htm
Bad enough to be screwed the way we are being the last few years without having to tiptoe through their lazy, inadequate rulebook.
I installed double glazing last year. Am I to understand from some posters above that this can only be claimed against CGT?
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